For the first question, you can invest the proceeds from sale of more than one house property into one house property and deduction for capital gains shall be available on investment in one residential house property in India.

Income from agriculture is exempt under income tax. However, while computing the tax on total income, it has to be included as per a certain formula due to which the other incomes are taxed at somewhat higher rate though agricultural income per se remains exempt.

Such prize money will be treated as income under Section 56 of the Income-tax Act and shall be classified as ‘Winning from Lotteries, etc.,’ Hence, U/S 115BB, such income shall be taxed at 30% (plus applicable surcharge and cess).

A deduction under Section 80 TTA up to Rs 10,000 can be claimed against savings account interest, which means that any interest income on savings bank account over and above Rs 10,000 will become taxable.

My wife has a salary income of Rs 10 lakh a year on which she pays tax. Apart from that, I deposit Rs 25,000 every month into her account from my account for household expenses. Will she have to pay tax on the money that I deposit into her account and show it as income from other sources?

As per the provisions of Income-tax Act, 1961, HRA exemption can be claimed only if the rent is actually paid for the accommodation occupied by you and you should not be the owner/partial owner of the property.

Xiaomi Redmi Note 5, Redmi Note 5 Pro and Mi LED Smart TV 4 are all set to hit the Indian market today. The devices will go sale at 12 noon today at Flipkart. The Chinese smartphone brand is also offering a cashback to the consumers.

Bosch recently displayed future automotive technologies specifically aimed at the Indian market. There was also a small electric car to drive for us with Bosch technologies so here's what technologies to expect in India over the next few years.

As N Chandrasekaran, the first non-Parsi chairman of the Tata Group in its 150 year-old history, completes his first year on February 21, he can draw lots of satisfaction that he's successfully pulled the group out of the morass that began after the sacking of his predecessor, and also possibly has a good start to the second year with the largest acquisition the group has ever made.